Cubby reborn in £12m Svella-backed takeover

Led by former Stobart director Andrew Tinkler, Svella is committing £12m right into a newly-formed Cubby Group that brings collectively 14 built-in companies drawn from each Svella’s and Cubby’s present operations.

Cubby Development, established in 1968, constructed a robust status in building, civil engineering, and joinery manufacturing, working throughout north west England and the Scottish Borders.

However the £24m turnover contractor bumped into issues engaged on Galliford Strive’s Carlisle Southern Hyperlink Street undertaking which it exited late final 12 months leaving it with liquidity issues.

L-R: Kirk Taylor, Andrew Tinkler and Darcie Rae from Svella

The brand new-look Cubby Group additionally brings in elements of Svella’s rising portfolio, together with the telecoms, plant rent, transport and lodging arms it acquired from failed contractor nmcn 4 years in the past. Svella has since added a rail consultancy and EV infrastructure specialist Aberla to the fold.

The expanded Cubby Group construction includes:

• Core models: Cubby Development, Civils, Joinery, Utilities, and Plant Rent

• Related acquisitions: Briscoe Development, Finlaysons Contracts, Laidlaw Constructing and Scaffolding

• Vitality and rail: Aberla Vitality, Avidrail

• Help providers: Enviro Skip and Enviro Rent

Backed by Svella’s wider operational platform, the Cubby Group is now aiming to increase its footprint throughout the north of England, southern Scotland and the Midlands.

The brand new group employs round 350 individuals and is focusing on long-term progress in renewables, utilities, rail and infrastructure.

Govt chairman Tinkler confirmed the group is aiming to develop revenues to over £50m by the tip of Might 2026.

He stated: “The acquisition of Cubby and the £12m funding will ship stability and underpin our long-term progress technique.

“The brand new Cubby Group brings collectively complementary experience and offers prospects a wider service providing and improved efficiencies.”

Tinkler added: “We’re targeted on unlocking the enterprise’s potential by operational enhancements, funding in individuals, and hands-on administration.”

Cubby Group now operates from a number of bases together with Carlisle, Jedburgh, Galashiels, Selkirk, Carnforth, Warrington, Chesterfield and Birmingham.